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Former Labour leader Lord Neil Kinnock has called for the introduction of an annual 2% wealth tax on assets valued over £10 million in the UK. Speaking to Sky News, Kinnock suggested that such a tax could generate up to £11 billion annually for the Treasury, helping to address the government's financial shortfall. The Labour Party, under Keir Starmer, is reportedly willing to explore this proposal as part of efforts to bolster public finances. The idea has gained some traction within the party and among government union supporters as a potential measure to raise revenue.
"When it comes to taxation, fairness is going to be our guiding principle." Transport Sec @Heidi_Labour tells @TrevorPTweets that budget decisions will be made "in the round" - but would not comment on if it means wealth redistribution. 📱 https://t.co/iolhSBDOe8 📺 Sky 501 https://t.co/QAM3R9XQUF
Labour's leader in Wales joins demands for 'wealth tax' as Rachel Reeves desperately tries to get a grip on '£30bn' hole in public finances https://t.co/8kbvVRpdde
🇬🇧 We Need A Wealth Tax ▫Wales' Labour First Minister backs Wealth Tax and piles pressure on Keir Starmer ▫@LizzyBuchan ▫https://t.co/WvIr4lSJTu #frontpagestoday #UK @thesundaypeople 🇬🇧 https://t.co/wHAI7yuXVT
